Crypto Guides, Knowledge & Insights

Dogecoin Price Prediction

Dogecoin price is still within a descending channel even after bouncing off a crucial support zone earlier on Monday. The altcoin, which is ranked 10th in the cryptocurrency market according to CoinGecko, will likely remain under pressure in the near term.　　Over the past seven days, its price has dropped by about 9.2%. However, it has recouped some of the previous weeks losses by rising by 2.7% over the past 24 hours.　　Dogecoin price prediction　　DOGE has bounced off the support zone 0.2000 even as it remains on a downtrend. On Sunday, the altcoin extended its losses as the bears attempted to break the aforementioned support. After hitting an intraday low of 0.1922, it is back above the psychological level to its current 0.2069.　　Even with the observed rebound, Dogecoin price is still in the descending channel whose formation began earlier in the month. On a four-hour chart, it is trading below the 25 and 50-day exponential moving averages. Besides, the trendlines highlighted along the RSI are forming a wedge.　　Based on these technical indicators, Dogecoin price will likely remain under pressure in the ensuing sessions. I expect it to trade within a rather tight range. From this perspective, the horizontal channel‘s upper border will

2021-11-29Deep Dive

Fighting Crypto Scams in South Africa through Wikbit.

Wikibit is global crypto regulatory platforms owned by wiki co. limited with branch offices across the globe and headquartered in Hong Kong China. This company through its South African branch, helps to fight crypto Scams in South Africa by carrying out thorough investigation about the existence of the different brokers, online trading platforms and exchange that feature in South Africa. Consequently, all crypto traders in South Africa are invited to download wikibit app. through which they can always obtain correct data and facts surrounding any broker and exchange they intend to deal with. wikibit also helps the defrauded to regain their capital by exposing the Scam brokers and tracing them to repay their clients. All South African traders are invited to report their experience of scam brokers and exchange to wikibit as to fight their battle for them and help them regain their investments.　　Some investors today in South Africa are very much afraid to invest in crypto due to the increasing cases of fraud brokers that dope traders of their hard earned currency after depositing. Similarly many online platforms now promise people great ROI returns for their investments in crypto but always failed to pay the clients after investment. Against

2021-11-29Deep Dive

Omicron (OMC) Cryptocurrency Spikes 716% After WHO’s Name Choice for the Latest COVID-19 Strain

This may be good news or bad news – depending on how you take it.　　A small-cap cryptocurrency surged 716% over the weekend… following the WHOs naming of the most dangerous strain of COVD-19 after it.Omicron Shows Why Names Matter　　Omicron (OMIC), a cryptocurrency that defines itself as a decentralized reserve currency protocol available on the Arbitrum Network, started giving joy to its hodlers around noon on November 27, when it broke through resistance near $70 and rose to $187 in less than half an hour.　　From there, prices went wild, and the token reached a daily high of about $242.　　The greedy folks who didnt cash out after this amazing surge of interest saw their bravery rewarded the next day when each OMIC climbed to trade on the order of $430 at its peak.　　From that point, the token corrected to a low of $260 before a further push to its current $367. Not bad for a cryptocurrency that shares a name with the sixth deadliest pandemic of all time.　　Unlike previous projects, the Omicron (OMIC) case is all about (un)fortunate coincidence. The token was born in early November as a fork of Olympus on the Arbitrum Network.　　The Omicron protocol plays with a relationship between

2021-11-29Deep Dive

4 cryptocurrencies to watch in 2022

As we enter 2022, all eyes are looking to see what‘s next in crypto. By now, blue-chip tokens like Bitcoin and Ether are familiar to anyone who’s had even a passing interest in “hodling.” And with Bitcoin now regularly trading around $60,000 and Ether at north of $4,000, some investors may be scouting for less established cryptocurrencies that may offer bigger returns. Luckily for them, there is no shortage of alt-coins—cryptocurrencies other than Bitcoin—that may break out and become the next household name.　　Here are four emerging cryptocurrencies to watch as we enter 2022.　　Shiba Inu (Symbol: SHIB)　　The meme-coin sensation burst into the public consciousness in 2021, piggybacking on Dogecoin‘s success to become the latest decentralized homage to man’s best friend (the Shiba Inu is a breed of dog). Shiba Inu—which is valued at fractions of a cent—rallied to an all-time high in late October, approaching a market cap of nearly $40 billion in the process. In turn, the token‘s legions of devotees—dubbed the SHIBArmy—clamored for Robinhood to make SHIB available on the stock trading app’s crypto platform.　　But since those heady days of a month ago, things have taken a turn for the worse. SHIB has bled value in recent weeks, with

2021-11-29Deep Dive

Deep Dive Into Decentralised Finance: Valuing DeFi Blockchains

Decentralised Finance (DeFi) is a system that allows financial products to appear on a public blockchain network which is not regulated by a central bank or intermediary. DeFi systems, majority of which are built on the Ethereum blockchain, aim to provide an autonomous and decentralised option for financial services that are otherwise regulated by banks and national or international administration. If you are serious about crypto investing, you must have a deep understanding of decentralised finance (DeFi). Simply put, DeFi is an umbrella term for financial applications powered by public blockchains.　　The mindmap (pictured above) shows the various aspects of DeFi. Over the next few editions, I will take you through a DeFi Deep Dive and discuss the following issues:　　Valuing DeFi Blockchains　　The top 5 DeFi Assets　　The top 5 Decentralized Exchanges　　The top 5 Lending platforms　　So, lets start with the first: Valuing DeFi Blockchains.Basic metrics　　Total Value Locked (TVL) is the total amount of assets “locked” or secured in a DeFi blockchain or protocol.　　Circulating Supply is the number of coins/tokens in public hands.　　Market capitalization (Mcap) is calculated as the Current Price x Circulating Supply.　　Mcap/ TVL Ratio (MTR) is calculated by dividing the Mcap by the TVL.　　Based on my research, I consider 3 to be

2021-11-29Deep Dive

Stablecoins: How safe and stable are they?

The first thing most people do when entering crypto using a DEX is to exchange their fiat currency for stablecoins, which can later be exchanged for other tokens.　　However, besides being the most important channels for users to start investing in crypto, stablecoins are also the foundation of the whole DeFi industry—acting primarily as a medium of exchange but also being used for liquidity pools and yield farming.　　The market cap of stablecoins is still dominated by centralized stablecoins, with USDT occupying half of the market. DAI, the leading decentralized stablecoin, ranks fourth, while UST, an algorithmic stablecoin, follows in fifth place.　　Due to its close relationship with fiat USD, Tether has naturally attracted attention from regulators. There has also been rising concern that the currencys under collateralization now poses a systemic structural risk.　　However, centralized, decentralized and algorithmic are all different. Are they all equally unstable？ Is the fear of stablecoins warranted？ Could Tether bring down all of DeFi？1. Decentralized Stablecoins　　USDT, which has a first-mover advantage, is the dominant centralized stablecoin. Its issuance model is that a user sends a certain amount of USD to Tethers bank account, and Tether will transfer the same amount of USDT to that user after confirming receipt

2021-11-29Deep Dive

Turkish Lira Collapses Under Erdogan’s Rule: Can Bitcoin Be a Lifeboat for Locals?

The Turkish lira – Turkey‘s national currency – has been in a state of freefall for the last three months and has lost around 35% of its value against the US dollar. This has been the result of the President’s somewhat controversial policies and decisions, the latest of which led to a 15% daily drop against USD.　　In September, President Recep Erdogan also declared war on bitcoin, aiming to pave the way for implementing the digital lira. Since then, Turkey has suffered significant economic setbacks, while the primary cryptocurrency has increased its price by nearly 40%. As such, MicroStrategy‘s Michael Saylor advised locals to convert their fiat currencies to bitcoin to save themselves in the monetary chaos reigning inside their country’s borders.　　Turkey Financial Crisis Worsens　　The financial situation in Turkey is concerning, to say the least, and its main issues are coming from the crash of the Turkish lira. On November 23, it plunged to a historic low level of 13.44 against the greenback. This was a decrease of 15% for a single day.　　The major descend has been causing inflation, which is currently around 20%. Basic goods and services for Turks (a population of approximately 85 million) have soared in price, while

2021-11-29Deep Dive

Bitcoin processes more dollar value than PayPal, could surpass Mastercard by 2026

Market intelligence platform Blockdata has suggested in a new report Bitcoin could outstrip credit card giant Mastercard in the number of dollar transactions value processed.Bitcoin processes more dollar value than PayPal　　Just recently, Bitcoin overtook the giant payment tech company, PayPal, in terms of value transfer. At the time of writing, the Bitcoin network recorded about $489 billion in processed value per quarter while PayPals value was around $302 billion.　　While this represents a major milestone for the crypto industry, the value pales significantly against that of Mastercard and Visa—the other leading payment companies in the world.　　Per available data, the two credit card giants processed around $1.8 trillion, and $3.2 trillion worth of transactions in the previous quarter respectively.　　If Bitcoins network value is compared against those two, it would represent just 27% and 15% of the transaction volume processed by those giant fintech companies.How Bitcoin can match Mastercard, others　　Blockdata, however, in a November 25 report titled When might the Bitcoin network process volumes like Mastercard and Visa？ suggested how the Bitcoin network could match these companies in the Dollar amount of transactions being processed.　　“If Bitcoin were to increase its value transferred per transaction today by 260%, it would be processing an equivalent

2021-11-29Deep Dive

The Solana Network Is Greener Than Google: Report

Solana has emerged as a viable alternative to a host of blockchains. In fact, the network is not only efficient when it comes to conducting transactions but is also greener than web browsing giant Google, at least according to a recent report.　　At a time when the carbon footprint of Proof-of-Work (PoW) based assets has come under scanner, Solanas latest Energy Use Report for November 2021 demonstrates a brand new trend taking shape that pushes towards a greener crypto sphere.　　Solana Vs. Google: Which Ones Greener？　　According to the report, the Solana Foundation determined that a single Solana transaction takes 0.00051 kWh or 1,836 Joules of energy. To put things into perspective, the report presented a myriad of activities that consumes more energy. For instance, a single Google search reportedly consumes around 1,080 Joules. Meaning, two Google searches would consume more energy than one transaction on the Solana network.　　It does not end there. Transaction on Solana also requires 24 times less energy than charging a mobile phone. It is also less energy exhausting than keeping an LED light bulb on for one hour, which consumes around 36,000 Joules, as well as working for an hour with a computer and monitor, which takes around

2021-11-29Deep Dive

US Regulators Release ‘To-Do List’ For Cryptocurrencies In 2022 — Here’s What They Are Focusing On

US regulators have released a blueprint to guide the conduct of cryptocurrency market participants in 2022.　　The guidelines place a focus on banks as they look to provide cryptocurrency offerings to their clients.　　Regulators had previously made recommendations to Congress for regulations of stablecoins in October.　　Gary Gensler once referred to cryptocurrencies as the “Wild Wild West” and said that he will try to suppress the ecosystem. It seems the task is a herculean one and will require synergy between financial regulators.　　The Sprint List　　US financial regulators have released an inter-agency policy memo that spells out the blueprint for further regulation in the cryptosphere. The to-do list popularly referred to as the “crypto sprint” is a concerted effort of the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency.　　The joint statement reduces its scope to banks and other financial institutions with a focus on crypto-asset custody, facilitation of customer purchases and sale of cryptocurrency assets, crypto loan, and all payments involving the use of stablecoins. Regulators are also looking to improve existing regulations on “activities that may result in the holding of crypto-assets on a banking organizations balance sheet.”　　“Throughout 2022, the agencies plan to provide greater clarity

2021-11-29Deep Dive

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